Why N Chandrasekaran is stepping down as Tata Sons chairman: Full statement

N Chandrasekaran has stepped down as Tata Sons chairman

NEW DELHI: Tata Sons chairman N Chandrasekaran on Wednesday announced that he would not continue in the post beyond February 20, 2027, when his current tenure is scheduled to end.In a statement, Chandrasekaran attributed his decision to the continuing delay in reaching a resolution on extending his term beyond the end of his current tenure.Also read: Tata group stocks fall up to 4% as N Chandrasekaran steps down as chairmanChandrasekaran joined the Tata Group in 1987 and became CEO of TCS in 2009 before taking over as Tata Sons chairman in 2017.

Full text:

I have completed 40 years of professional life at the Tata Group. I am grateful for the immensely satisfying opportunity to contribute to this venerable institution. Leading Tata Sons over the past decade has been a great honour and a profound responsibility.My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board. Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision.It has been 6 months since that Board meeting, and no resolution has been reached till date. Tata Sons is a very large institution and there are many strategic projects that are under critical stages of execution. It is not only necessary to have a leader in place to lead the Group beyond Feb 2027, but also clarity on leadership is important for employees, investors, partners and other stakeholders.Under these circumstances, earlier today, I have communicated to the Tata Sons Board, that I have decided not to offer myself for reappointment when my term ends on Feb 20, 2027. I have asked the Board to decide on the succession soon to ensure a proper transition.I am grateful for the support of all stakeholders.